December U.S. T-Bonds closed up 1 full point at 132 29/32 Tuesday. Prices closed nearer the session high Tuesday and hit a fresh six-week high. Bond market bears still have the overall near-term technical advantage. However, the bulls are gaining upside momentum. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at 130 even. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the August high of 133 20/32. First resistance is seen at Tuesday’s high of 133 5/32 and then at 133 20/32. First support is seen at Tuesday’s low of 132 1/32 and then at this week’s low of 131 13/32. Wyckoff’s Market Rating: 3.5.

December U.S. T Notes closed up 14.0 (32nds) at 125.28.5 Tuesday. Prices closed nearer the session high Tuesday and hit a fresh two-month high on more short covering. The bears still have the overall near-term technical advantage. However, the bulls have gained upside momentum recently. The next upside price breakout objective for the bulls is closing prices above solid resistance at the July high of 126.14.5. The next downside price breakout objective for the bears is producing a close below solid technical support at 124.00.0. First resistance is seen at Tuesday’s high of 126.01.5 and then at 126.14.5. First support is seen at Tuesday’s low of 125.16.0 and then at this week’s low of 125.02.5. Wyckoff’s Market Rating: 3.5